CARS MOTORCYCLES AND MARINE ENGINE TRADE AND IMPORT COMPANY S.A
Announcement on the decisions of MOTODYNAMICS S.A. Annual General Meeting of 23-04-2010
MOTODYNAMICS S.A. announces that the Annual General Meeting of its Shareholders was held today, the 23/4/2010 at midday (12:00), at the Companys registered seat in Aspropyrgos (Kyrillos region, Postal Code 19300).
14 Shareholders were present, holding 3.298.522 common nominal shares of a total of 5.130.000, representing a total percentage of 64,30% of the registered capital. Therefore, the General Meeting met with the required quorum according to the law and the Companys Articles of Association for all subjects of the Agenda.
The General Meeting unanimously approved, by a percentage of 100% of the present votes, i.e. by 3.298.522 shares, the following subjects:
1st Subject: The Annual Financial Report (Company and Group -consolidated) for the financial period 01.01 - 31.12.2009, comprising the Annual Financial Statements (Company and Group) as well as the related Reports of the Board of Directors and the Auditors.
2nd Subject: The acquittal of the Members of the Board of Directors and the Auditors from any liability for damages, referring to the financial period 01.01 - 31.12.2009.
3rd Subject: The election of the Auditing Company ERNST & YOUNG (HELLAS) S.A. for the fiscal year 01.01-31.12.2010 and its remuneration. The responsible Regular Auditor, shall be Mr. Vassilios Kaminaris and the Substitute Auditor shall be Mr. Christos Pelentridis.
4th Subject: The remuneration - compensation up to 370.000 Euros to the Members of the Board of Directors (art. 24 paragraph 2 of Greek Cod. Law 2190/20).
5th Subject: The extension of the term, during which the company may buy its own shares until the 23-04-2012, at a maximum price of six (6) Euros and a minimum price of sixty cents (0,60€). The maximum number of (own) shares the company may buy remains at 400.000, as decided by the Annual General Meeting of Shareholders on the 30-05-2008.
The Shareholders General Meeting decided that no dividends shall be distributed this year due to the lack of profits for the financial period 01.01.-31.12.2009.
Finally, regarding the 6th Subject of the Agenda, (Various Announcements) no further announcements were made.
14 Shareholders were present, holding 3.298.522 common nominal shares of a total of 5.130.000, representing a total percentage of 64,30% of the registered capital. Therefore, the General Meeting met with the required quorum according to the law and the Companys Articles of Association for all subjects of the Agenda.
The General Meeting unanimously approved, by a percentage of 100% of the present votes, i.e. by 3.298.522 shares, the following subjects:
1st Subject: The Annual Financial Report (Company and Group -consolidated) for the financial period 01.01 - 31.12.2009, comprising the Annual Financial Statements (Company and Group) as well as the related Reports of the Board of Directors and the Auditors.
2nd Subject: The acquittal of the Members of the Board of Directors and the Auditors from any liability for damages, referring to the financial period 01.01 - 31.12.2009.
3rd Subject: The election of the Auditing Company ERNST & YOUNG (HELLAS) S.A. for the fiscal year 01.01-31.12.2010 and its remuneration. The responsible Regular Auditor, shall be Mr. Vassilios Kaminaris and the Substitute Auditor shall be Mr. Christos Pelentridis.
4th Subject: The remuneration - compensation up to 370.000 Euros to the Members of the Board of Directors (art. 24 paragraph 2 of Greek Cod. Law 2190/20).
5th Subject: The extension of the term, during which the company may buy its own shares until the 23-04-2012, at a maximum price of six (6) Euros and a minimum price of sixty cents (0,60€). The maximum number of (own) shares the company may buy remains at 400.000, as decided by the Annual General Meeting of Shareholders on the 30-05-2008.
The Shareholders General Meeting decided that no dividends shall be distributed this year due to the lack of profits for the financial period 01.01.-31.12.2009.
Finally, regarding the 6th Subject of the Agenda, (Various Announcements) no further announcements were made.